The announcement coincided with its full-year results, with growth driven by its jewelry brands.
NPR Highlights Lab-Grown Diamonds
National Public Radio recently considered the lab-grown diamond market in a segment on its flagship news program, “All Things Considered.”
New York--National Public Radio just aired “Lab-Grown Diamonds Come Into Their Own,” a piece in which it interviewed diamond industry experts on the growth of the lab-grown diamond market.
In the radio feature and article, written by Nell Greenfieldboyce for “All Things Considered,” NPR noted the advances in diamond-growing technology in recent years, quoting the International Gemological Institute’s David Weinstein as saying that while lab-grown diamonds used to mostly be yellow or brown, they are now “astonishingly white.”
NPR also spoke with Yarden Tsach, of WD Lab Grown Diamonds (formerly Washington Diamonds) near Washington, D.C. Tsach said that lab-grown diamonds can be created in approximately eight weeks.
“The market is huge, we cannot satisfy the demands,” Tsach told NPR.
NPR noted in its story and on-air report that lab-grown diamonds can retail for as much as 30 percent less than a regular diamond, and also cited the 2016 research report from Morgan Stanley, which said that while lab-grown stones make up about 1 percent of the current diamond supply, that figure could rise to between 7 and 15 percent in coming years.
RELATED CONTENT: The State of the Diamond IndustryThis could be aided by major retailers like Barneys embracing lab-grown diamonds; the upscale retailer introduced a collection featuring synthetics in October “as a high-tech, eco-friendly alternative to mined gems,” NPR noted.
The story went on to highlight the potential issues that lab-grown diamonds could create, such as the infiltration of undisclosed synthetics in the market, mentioning the recent discussions were held on this topic at the U.S. Jewelry Council’s recent meeting in New York City.
NPR highlighted the fact that, particularly for small diamonds, it is typically too costly to test the thousands of stones that manufacturers handle, leaving the possibility of undisclosed synthetic diamonds slipping into the natural supply pipeline and creating an issue for the industry.
RELATED CONTENT: 5 Takeaways on the Lab-Grown Diamond MarketNPR’s report also included insights from Tom Moses, the chief laboratory and research officer at the Gemological Institute of America.
At the GIA, their equipment takes two seconds, and eight cents, to test whether a diamond is real or synthetic, he said.
Moses also said that the GIA doesn’t have any bias regarding synthetics. “It’s not our job to determine what’s the right kind of diamond for an individual,” he told NPR.
He noted, however, that it’s important for customers to be clear
The Latest
Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
Jewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.
Despite the rising prices, consumers continue to seek out the precious metal.
This little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.
Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.
The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
The annual list recognizes young professionals making an impact in jewelry retail.
Owner David Mann is heading into retirement.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
The ad aims to position platinum jewelry as ideal for everyday wear.
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
The site has been down since Thursday evening, just ahead of its spring auctions.
The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
As a token of womanhood, this necklace depicts when Venus was born from the sea.
The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
Show your mother some love with a piece of fine jewelry.
The company’s Easton location will remain open.